This section outlines the process of adding a new bank account for your legal entity within the system.

Overview

To add a new bank account, navigate to Setups > Bank Accounts > Add a New Bank Account.

General Information

• Description: Provide a clear description for the bank account, ideally including the account holder's name and the bank's name (e.g., "FNB AR Botma"). This is a required field.
• Enabled: If the account is no longer in use, you can disable it by unchecking this box.
• Financial Ledger: Select the general account ledger to which this bank account is linked. This is a required field.

Account Information

• Bank: Select the bank name from the provided list. This is a required field.
• Branch Search: To find the preferred branch code, enter an asterisk (*) and click the search button. Alternatively, you can enter the branch code (without spaces) and click search.
  • Preferred Default Branch Codes (Namibia):
    • Standard Bank = 087373
    • FNB = 282672
• Branch Select: This field automatically populates after a successful branch search. Select the preferred branch from the options. This is a required field.
• Branch Code: The system will display the branch code you selected during the branch search.
• Bank Account Type: Select the type of bank account from the list. This is a required field.
• Bank Account Number: Enter the bank account number without any spaces. The system performs a CDV (Check Digit Verification) check for South African and Namibian account numbers to verify their validity. This is a required field.
• Perform CDV Verification: A CDV check is performed on the account number for South African and Namibian accounts to ensure it's a valid number.
• Payment Deposit Account: If this account is designated as a Payment Deposit Account, select this checkbox. When selected, the legal entity's banking details will appear on client statements.

Payment Export

• Payment Export Account: Select this checkbox if this account will be used for exporting payments.
• Export Type: Select one of the available options. This is a required field.
• Merchant ID: Enter the Merchant ID. This is a required field.
• Legal Entity Short Name: Enter the short name for the legal entity. This is a required field.

Receipt Import

• Receipt Import Account: Select this checkbox if this account will be used for importing receipts.
• Import File Layout: Select the format of the import file. This file format must be set up in advance.
• Receipt Event: Select the event to be used for recording receipt deduction transactions on the ledgers. The financial ledger under General will be debited, and the client control account will be credited when the system records the receipt deduction event.
• Record Unlinked Entries: Select this checkbox if you wish to record entries that could not be linked during the import process.
• Unlinked Receipt Event: Select the event to be used for recording unlinked transactions on the ledgers.

Payout Export

• Payout Export Account: Select this checkbox if this account will be used for processing payouts (transferring money from this bank account to borrowers' accounts).
• File Layout: Select the format of the export file. This file format must be set up in advance.

Payroll Processing

• Payroll Processing Account: Select this checkbox if you want to import a file to process receipts in MAXMONEY.
• Receipt Event: Select the event to be used for recording receipt deduction transactions on the ledgers. The financial ledger under General will be debited, and the client control account will be credited when the system records the receipt deduction event.
• Input File Layout: Select the format of the import file. This file format must be set up in advance.
• Create Output File: Select this checkbox if you want an output file to be generated after the receipt deductions are completed. The amount in the output file will reflect the reduced amount after the receipt has been processed.
• Output File Layout: Select the format of the output file. This file format must be set up in advance.

Available Buttons

• Save: Click this button to store the entered information.
• Cancel: Click this button to discard any changes and return to the previous screen.